Morgan Stanley is launching its first two new funds in India for the first time in 13 years, Reuters reports. Currently, it only runs one fund, the Morgan Stanley Growth Fund, which it launched in 1994. It was the first mutual fund offered in India by an overseas investment firm.

One of the new funds, the Morgan Stanley A.C.E. Fund, with invest in stocks, while the Morgan Stanley Liquid Fund, will invest in money market and debt instruments.

Within the next year to 18 months, the company is also anticipating offering a slew of additional funds, including one that will focus on small- and mid-cap stocks, an international fund and other fixed-income funds.

The company is especially bullish on India, projecting annual compounded growth of the mutual fund industry there of between 25% and 30% a year for the foreseeable future.

“We have been here longer than most other foreign asset management companies,” said Morgan Stanley Executive Director Anthony Heredia. “This is just about increasing presence in the domestic Indian market. Indian consumers are going to buy more and more mutual funds as a percentage of their savings, and Morgan Stanley wants to be a part of it.”

The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.

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